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Gbpusdidea

GBPUSD BEAR CHANNEL CONTINUES Hi Traders! The bear channel on GBPUSD continues. We have a very simple regression channel here on 1H chart to show this. The market has been hitting the support of the channel and coming off the resistance of the channel almost perfectly. A set up like this gives numerous opportunities for entries and exits and also very good risk-reward opportunities by trading within the range of the channel. Please do not forget to like, comment and follow, we would love to hear your thoughts! Thank you for your support. BluetonaFX
by BluetonaFX
3
GBPUSD Flat miexd bagLONG TERM BEARISH DAILY BEARISH 4H Bearish 2 H Bearish 2H Momentum BEARISH BoE raises rates by 25 bp, revises inflation, GDP forecasts here was no surprise as the Bank of England raised rates by 25 basis points, bringing the cash rate to 4.50%, its highest since 2008. This marked the twelfth consecutive hike in the current rate-tightening cycle, underscoring the BoE’s pledge to curb hot inflation. Governor Bailey said after the rate announcement that Bank would “stay the course to make sure that inflation falls all the way back to the 2% target”. Nobody is expecting that the road to 2% will be easy, with inflation currently in double digits. The BoE remains optimistic that inflation will fall rapidly during the year and will fall to 5% by the end of the year. In February, the BOE predicted 4% inflation by the end of the year. This seems like a tall order but is certainly possible if the rate hikes make themselves felt and cool the economy. GBP/USD is putting pressure on support at 1.2495. The next support level is 1.2366. 1.2573 and 1.2676 are the next resistance lines. The GBP/USD pair might then aim to reclaim the 1.2600 round figure and test the 1.2635-1.2640 supply zone. The upward trajectory has the potential to push spot prices towards the 1.2700 mark, which coincides with the top end of the ascending channel.
Short
by DaveBrascoFX
4
GBP/USD Alert: Unrealistic Forecast for UK Inflation? Tomorrow, the latest inflation rate for the UK will be released, which will be significant for traders dealing with GBP/USD due to the perhaps unrealistic forecast for a 2-percentage point drop. It is expected that the inflation rate for April will have significantly dropped to 8.2%. Are markets overly optimist with this forecast? In March, the consumer price inflation rate in the United Kingdom eased to 10.1% on a year-on-year basis, slightly lower than the 10.4% recorded in February but higher than the market's expectation of 9.8%. The British pound has remained strong, with a value around $1.2435, staying close to its 12-month high of $1.2679 reached on May 10th. Currently, money markets predict an 80% chance of the Bank of England raising interest rates by 25 basis points to 4.75% in June, and a 79% chance of a 5% Bank Rate by September. Recently, the BoE increased rates to 4.5%, the highest level since 2008. On the other hand, some expect the US Federal Reserve to pause its current tightening cycle as policymakers carefully consider concerns about inflation's impact on economic growth. There have been positive developments regarding discussions about the US debt ceiling, according to US House Speaker Kevin McCarthy, who mentioned the possibility of a deal being reached tonight or tomorrow. When examining the 4-hour chart, the pair tested an important 50-bar moving average (MA) and attracted buyers on Friday. This MA will continue to be a significant level leading up to the inflation rate data drop. If the GBP/USD pair maintains its upward bias, it will need to contend with the Relative Strength Index (RSI) indicator, which recently dipped below the 50-midline. Should the 50-day MA be breached, the expected trading range for today could be between support at 1.2350 and resistance at 1.2400.
by BlackBull_Markets
GBPUSD: The influence of the dollar!Fundamental Overview of me Last week, GBP/USD suffered a loss of almost 200 pips. However, the new week has started on a positive note for the pair as it has made a recovery towards 1.2500. As there are no major data releases planned, the pair's movement for the day will depend on the risk perception. During the second half of the previous week, GBP/USD was continuously under bearish pressure, as USD gained strength from safe-haven flows. Additionally, the cautious approach of the Bank of England towards further rate hikes and Governor Andrew Bailey's positive outlook on inflation added to the burden on Pound Sterling. Plan trade in the intro
Short
by Sphyn-Trader
4